15 November 2019

Table of Contents for Ticker Tapes





Ticker Tape- Construction

BHENDI BAZAAR REDEVELOPMENT PROJECT APPOINTS CAPACITE INFRAPROJECTS PVT

Capacite Infraprojects Pvt Ltd is the contractor appointed to carry out the construction of the sub-cluster 3, which will have two rehab towers of 30 storeys each. The total cost of the Bhendi Bazaar Redevelopment project is Rs.4000 crore. The project is scheduled to be completed in three years. 3,200 residential tenants and 1,250 commercial units are to be rehabilitated. Overall 17 towers have been planned as part of the redevelopment project spread over 16.5 acres.The project recently received the Best Smart City Project 2016 Award during a conclave in Delhi on smart cities supported by the Centre. The Bhendi Bazaar Redevelopment project beat the GIFT City in Gujarat, DLF 5 in Gurgaon and Blue Ridge in Hinjewadi, Pune.Last year, the project was identified as the ‘National Best Practice Project’ at the launch of Smart Cities Mission last year.

 

 

CWPD TO ADOPT MONOLITHIC CONSTRUCTION TECHNOLOGY

Monolithic construction technology followed in countries like Russia, Germany, China, Singapore UK, Malaysia, US and many others is being adopted by the CPWD (Central Public Works Department) to ensure a new dust free construction technology project’s implementation which is likely to cost above Rs.100 crore. Monolithic construction technology is suited for large housing projects and office complexes. It helps in cost saving due to reduced construction time, much lesser air and noise pollution and construction waste, and durable construction.

 

 

TATA HOUSING TO BE FUNDED BY UK’S CDC AND IFC

CDC, UK's Development Finance Institution (DFI), wholly owned by the UK government is one of the largest investors in private equity funds in South Asia, supporting 37 funds investing across the region, including in 25 out of India's 29 states. It aims to commit around $150 million each year to private equity funds investing in South Asia. IFC is the largest global development institution focused exclusively on the private sector. It works with enterprises in about 100 countries and provided more than $22 billion in financing to developing countries in FY14. The CDC will invest $25 million in Tata Value Homes, its affordable housing projects, and IFC, a member of the World Bank group, will also invest $25 million in the company as it ramps up construction of affordable homes and townships.

 

 

POWAI BIZ PARK TO BE PURCHASED FOR $ 1 BILLION

The Canadian Asset Management company also known to be property and infrastructure investors is to acquire 100% ownership of 4.5 million-sq-ft business park for Rs.6,700-crore.

The Union government of India recently devised a plan to provide tax clarity in setting up REITs, as sought by the global investors to bring buoyancy to the commercial real estate market. Bulge-bracket investors such as Blackstone, Qatar Investment Authority, Goldman Sachs and GIC of Singapore are among those adding to their Indian office space portfolio in recent years. The latest deals were Qatar-backed RMZ Corp's recent acquisition of Equinox Business Park from Essar for Rs.2,400 crore in the Kurla suburbs of Mumbai and Brookfield's acquisition of the AIM-listed Unitech Corporate Parks for over Rs.2,000 crore in 2014. The Hiranandani deal is the most aggressive buy of Indian office properties until now, for a bigger pie of the 400 million sqft grade-A office space in the country.The fully developed Hiranandani business park in Powai, one of the most covetable suburban business hub in the country's financial capital.

 

 

DLF RENTAL SPACE TO GO TO HIGHEST BIDDER

DLF plans to sell a significant minority interest in DLF Cyber City Developers (DCCDL), which owns the leased commercial assets including office and retail space portfolio the Delhi and Kolkata.Blackstone Group, GIC of Singapore and Brookfield Asset Management have fired slightly over $1-billion separate bids to acquire a 40% stake in DLF's commercial property unit that owns rent-yielding assets. Anassociation of Qatar and Abu Dhabi sovereign funds, along with Kotak Realty Fund is the fourth bidder in the process.The bids are essentially for a portfolio of around 25 million sqft of tenanted space, mostly office buildings. DLF promoters are likely to favour the highest bidder as the country's largest real estate developer looks to pare down and refinance debts pegged at around Rs.22,000 crore.

 

 

100 ACRE PROJECT FOR GREATER NOIDA MARKET

Realty firm Godrej Properties and AR Landcraft are set to develop 100 acre township project in Greater Noida and with project Godrej Properties expands its foothold into the Greater Noida real estate market.The real estate arm of the Godrej Group, plans to develop a golf centric township on about 4 million sqft.This is company's first project in Greater Noida and seventh within the National Capital Region (NCR).At present, Godrej Properties is developing residential, commercial and township projects spread across about 119 million sqft in 12 cities. The company had posted a 21 per cent increase in consolidated net profit at Rs.231.10 crore in 2015-16 fiscal as against 190.9 crore in the previous fiscal.

 

 

450 ACRES SOUGHT BY IKEA FOR FURNITURE CLUSTER AT KANDLA PORT

Ikea, the Swedish furniture major has approached Kandla Port looking for 450 acres to set up a furniture cluster. IKEA will source from the cluster to make furniture both for India and other countries.Ikea doesn’t intend to invest but it seeks to provide design and source from there, importing wood from countries like Africa or Canada. IKEA, has already announced the purchase of its first land parcel in Mumbai, the second one in India after Hyderabad.The IKEA store in Mumbai is planned to be around 400.000 square feet and expects over five million visitors a year. The company is evaluating suitable sites in Bengaluru, Mumbai and Delhi-National Capital Region and plans to open 25 stores in India by 2025.IKEA has been sourcing from India for 30 years and plans to double its sourcing volumes by 2020.

 

 

BOBY CHEMMANUR REAL ESTATE VENTURE

Boby Chemmanur International Group, a group based out of Kerala is venturing into real estate. Their upcoming project is designed over 62 acres of land on the Thrissur- Mannuthynational highway. Named Oxygen City, the project will have luxury villas, apartments, an IT park, ropeway, snow city, bird sanctuary, marine aquarium, wax museum, amusement park, multiplex theatres, shopping mall, food courts, prayer centre, sports complex and helipad. The project is scheduled to be completed in five years.

 

 

KOREAN FIRMS OFFERED LAND FOR SETTING UP EXCLUSIVE INDUSTRIAL PARK IN TELANGANA

The Korea Trade-Investment Promotion Agency (KOTRA),Industries, Commerce and Energy, Government of Telangana has signed an MoU at Korea Caravan-2016 in Telangana offered to set up an exclusive investment park for Korean companies.A group of Korean companies, which includes representatives from the likes of Posco, Hyundai, and some electronics companies, now on tour of Hyderabad as a part of the Korean Caravan, have been shown a few sites where they could possibly locate their factories, services companies, and other infrastructure, including schools.

Based on their response,all necessary infrastructure and support to set up their facilities.

 

COLDMAN LOGISTICS LAYS FOUNDATION FOR COLD CHAIN WAREHOUSE IN SRI CITY

Coldman Logistics, the Mumbai-based warehousing and distribution company has laid the foundation stone for construction of a new temperature controlled warehouse. Sri City is deemed to be an ideal location offering huge opportunities, superior connectivity to Chennai, Ennore and other ports and infrastructure required for business. The company aims to expand their network to other ports and major cities on pan India basis by building state-of-the-art temperature controlled warehouses, which will cater to food, pharma and other industrial products in next two years. Coldman Logistics is a leading cold chain warehouse and logistics solutions provider in the Western region of India. It proposes to build a large cold chain warehouse in a plot of 5 acres at an investment of Rs.60 crore.It will have five variant temperature zones along with dry warehousing and vegetable processing area which can cater to the storage needs of food, pharma, processing of pre-cut vegetables for export and domestic consumption and other industrial products. The facility is expected to be ready by early april 2017. it aims to provide jobs locally for about 50 people.

 

 

K RAHEJA CORP UNIT MAY SELL STAKE WORTH UP TO $500M

K Raheja Corp is set to divest a minority stake in its commercial real estate unit. The privately held, Mumbai-headquartered developer has roped in JM Financial and Morgan Stanley for a share sale processraising up to $500 million. The potential transaction could value the office space portfolio, now branded Mindspace, at around $2 billion. The company could divest between 15-20% stake, securing the fund-raising at $300-500 million

The stake sale process is sure to attract foreign investors. Rs.2,000 crore is being invested by the company to build a 6-million-sq-ft office space after investing in land parcels in NaviMumbai and Pune. India's grade-A office space market is pegged at 400 million sqft, with fresh annual absorptions estimated at around 32 million sqft, making it one of the most resilient markets in the world.

 

 

PRESTIGE GROUP WINS THE FIABCI WORLD PRIX D'EXCELLENCE AWARD THIS YEAR

The Prestige Group have once again proved the reason for their undisputed leadership position in the market by becoming the only developers from India to win the FIABCI World Prix d’Excellence Award this year which is considered to be the “Oscars” of the real estate industry. The company was conferred the FIABCI World Prix d’Excellence Silver Award for their landmark luxury residential development, Prestige Silver Oak.

 

 

EMBASSY GROUP ANNOUNCES THE LAUNCH OF EMBASSY SPRINGS IN BENGALURU

Embassy Group, announced the launch of Embassy Springs, Bengaluru’s largest master planned city, within the silicon valley of India. Spread across 300 acres in North Bangalore, Embassy Springs comprises of 188 acres of plots, 41 acres of apartments, 22 acres of villas &row houses, 20 acres of club & schools and 35 acres of commercial & retail space. The NCR region to become the second most preferred investment destination for investors after Mumbai.Embassy Springs is strategically located just 8 kms before the Bengaluru International Airport, right before the toll plaza and is set close to the upcoming IFCI .




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